Australian CEO leaves Vietnam taxi firm after brief stint

No reason was mentioned for the move.

Pham Minh Suong, deputy general director of the group, has been appointed acting CEO.

Born in 1971, Suong had earlier served as the group’s deputy general director in charge of transport and business development.

Pham Minh Suong is appointed acting CEO of Mai Linh Group. Photo courtesy of Mai Linh Group.

Last February, Wood, an Australian national, replaced Ho Huy, former chairman of the Mai Linh Group, in anticipation of a new regulation that will prohibit a company chairperson from concurrently holding office as the CEO of a public company.

The Mai Linh Group currently operates in all 63 provinces and cities, but its presence is mainly in the southern region.

Last March, the company merged with Mai Linh Northern and Mai Linh Central, two subsidiaries in which it had held stakes of 47.79 percent and 47.86 percent respectively. It said the move aimed to raise business efficiency amidst rising competitive pressure from ride-hailing services such as Grab.

It has targeted revenues of VND1.73 trillion ($74.88 million) and consolidated profits of VND39 billion ($1.69 million) this year. It also plans to its fleet to 25,000 cars.